BELMONT, Calif., Dec. 15, 2010 (GLOBE NEWSWIRE) -- A-CUBE Inc., today announced that it has reached an agreement with Chugai Pharmaceutical Co. Ltd, Japan. Under the agreement, the two parties will collaborate on developing the next generation of antibody therapeutics using A-CUBE's proprietary in silico algorithms.
"We are very pleased to start this collaboration with Chugai, Japan's leading pharmaceutical company, and a leader in monoclonal antibody therapeutics," stated Nobu Ota PhD, Founder and President of A-CUBE. "This is the start of a new strategic initiative by A-CUBE to seek long-term collaborations with expert partners."
"A-CUBE brings very original approaches that are complementary to our own capabilities," stated Hisafumi Okabe PhD, Vice President, General Manager of Research Division of Chugai. "We are expecting that they can make contributions to our challenge in this much competitive area of research."
A-CUBE Inc., is a venture capital-backed company funded by JAIC and yet2.com, which uses proprietary in silico algorithms to predict and monetize novel drug targets related to blockbuster drugs. It has used this to develop a preclinical therapeutic monoclonal antibody for cancer and other diseases.
Chugai Pharmaceutical, specializes in prescription pharmaceuticals and based in Tokyo, is one of Japan's leading research-based pharmaceutical companies with strengths in biotechnology products. Since the start of the strategic alliance with Roche in October 2002, Chugai is actively involved in prescription pharmaceutical R&D activities in Japan and abroad as an important member of the Roche Group. Specifically, Chugai is working to develop innovative products with global applications, focusing on the disease areas of oncology, renal disease, and bone and joint. In Japan, Chugai's research facilities in Gotemba and Kamakura are collaborating to develop new pharmaceuticals and Ukima is conducting research for technology development for industrial production. Overseas, Chugai Pharma USA and Chugai Pharma Europe are engaged in clinical development activities in the United States and Europe. The consolidated sales in 2009 of Chugai totaled 428.9 billion yen and the operating profit was 82.6 billion yen. We are aiming at the consolidated sales of 460 billion yen and operating profit of 80 billion yen in 2012, as stated in the mid-term business plan "Sunrise 2012". Additional information is available on the Internet at http://www.chugai-pharm.co.jp/.
JAIC America is a venture capital firm based in the Silicon Valley, focused on early stage investments in the Mobile/Communications, Digital Media, Life Science and Cleantech sectors. JAIC is part of Japan Asia Investment Co. (JAIC) group, a premier venture capital and private equity firm listed on the Tokyo Stock Exchange with $1.3 Billion assets under management. JAIC America was established in January 1999 and since then we have actively invested in the US. JAIC has successfully created several US-Japan cross-border business models and have the know-how to bring US technologies, services, and business models to Japan. JAIC tries to keep the right "management team - investor" balance to engender a productive outcome. For more information, visit http://www.jaicamerica.com.
yet2.com is a venture capital firm that has backed A-CUBE, and provides intellectual property consulting and licensing services to world-class clients around the globe. Yet2.com Inc and its online marketplace were founded in 1999 to promote Open Innovation, with original investments from Siemens, Bayer, Honeywell, DuPont, Procter & Gamble, Caterpillar, and NTT Leasing. The privately held company has offices in the United States, Europe, and Japan. The web site now has over 120,000 registered marketplace users including many of the Fortune 500 and over 16,000 smaller technology companies. In addition to its core team, yet2.com has created a wide network of Open Innovation partners covering many of the technology-rich countries around the world as well as relationships with open innovation organizations, technical expert networks, SME networks, technical magazines, online technical communities, and technology brokers. These provide market-wide access to technologies and needs in countries such as Russia, China, India, Korea, Brazil, South Africa, Japan, the US, and the EU. For more information, visit www.yet2.com or contact Tim Bernstein 1-781-972-0600.